EU Accession - Financial Sector Opportunities and Challenges for Southeast Europe (eBook)

KfW has been involved in the financial sector development of the current accession countries for almost fifteen years. Since the mid-1990, KfW has been promoting the financial sector and private enterprise of Southeast Europe through its support of, and cooperation with, microfinance and commercial banks and microfinance NGOs.

Table of Contents 13
List of Abbreviations 18
PART I: Stimulating the Economy of Southeast Europe 20
Introduction to Part I 21
Setting the Stage for Stability and Progress in Southeast Europe 24
The Scenario for EU Accession by Southeast European Countries 55
Infrastructure Finance, Accession, and Related Policy Issues in Southeast Europe 59
Making It Easier to Do Business in Southeast Europe 63
PART II: Financial Regulation for Stability and Protection in Southeast Europe 71
Introduction to Part II 72
Financial Sector Development in Southeast Europe – The Roles of EU Accession and Basel II 76
Implementing European Standards of Banking Regulation in Georgia 107
Issues Concerning Foreign Banks’ Operations in Bosnia and Herzegovina 112
The Role of Foreign Banks in SEE 116
The Impact of Basel II on Banking in Albania and Southeast Europe 120
Financial Stability in Southeast Europe – Basel II and the Challenges Ahead 125
PART III: Bankers’ Perspectives – Dynamic Banking in the Changing Market of Southeast Europe 136
Introduction to Part III 137
Bankers’ Perspectives – Dynamic Banking in a Changing Market 140
Evolution of the Banking Sector in Southeast Europe – The Role and Business Strategies of Domestic Banks 172
Financing Small and Medium-Sized Companies 177
The Business Strategies of Domestic Banks in the Long Run – SME Lending as an Attractive Market Segment 180
Building a Market Niche Also Builds a Market – Opportunity Bank in Montenegro 185
PART IV: Clients’ Perspectives on Access to Financial Services for Micro and Small Enterprise in Southeast Europe 189
Introduction to Part IV 190
Clients’ Perspectives – Providing More Effective Financial Services for Micro and Small Enterprises 194
Access to Finance: Issues and Opportunities in Southeast Europe 217
Nonfinancial Obstacles to SME Financing in Serbia 222
Constraints to Business Development in Bulgaria and the Case for Action 230
Degrees of Competition in Serving Target Groups – They May Be Closer than You Think 235
A New Approach to Business Development Services in Southeast Europe 240
PART V: Looking Ahead – Public-Private Partnerships in the Financial Sector in Southeast Europe 244
Introduction to Part V 245
Public-Private Partnerships for Financial Development in Southeast Europe 251
Replicable and Transparent PPP Models for Financial Sector Development 276
Using PPPs to Facilitate Transactions in Financial Markets 281
Sustainable Microfinance Banks – IMI as a Public-Private Partnership in Practice 287
Opportunities for Public-Private Partnerships in Financial Sector Development 295
Public-Private Partnership – Results in the Banking Sector in Southeast Europe 301
Microfinance Investment Funds – An Innovative Form of PPP to Foster the Commercialisation of Microfinance 320
PART VI: Summary and Conclusions 333
An Overview of Banking, Financial Regulation, and Access to Financial Services in Southeast Europe in the Context of EU Enlargement 334
Indices 347
Index of Names 347
Index of Countries 349
Index of Banks and Organisations 352
Index of Terms 356